Paytm, the leading fintech company in India, has announced a strategic investment of ₹100 crore in Gujarat International Finance Tec-City (GIFT City) to create a global financial ecosystem. This move demonstrates Paytm’s ambition to expand its presence in the international market.
By leveraging GIFT City’s advanced infrastructure, Paytm aims to develop efficient cross-border remittance solutions powered by artificial intelligence. These solutions will not only reduce friction but also offer faster and more cost-effective options for global transactions. In addition, Paytm has plans to establish a development center in GIFT City, which will employ talented engineers to create innovative financial products and services.
Vijay Shekhar Sharma, the founder and CEO of Paytm, expressed his excitement about the investment, stating that GIFT City has the potential to become a global financial hub and position India as a leader in innovation. He emphasized the significance of this investment in building an AI-driven cross-border remittance and payments technology landscape, opening up global opportunities for Paytm.
Furthermore, GIFT City will serve as an exemplary innovation hub for cross-border activities, allowing overseas investors the flexibility to maintain foreign currency accounts. Paytm is confident that this investment will not only enable the delivery of fast, reliable, and cost-effective remittance solutions but also strengthen its position on a global scale.
With the establishment of a dedicated development center, Paytm aims to drive technological advancements and further expand its global presence. This move highlights the company’s commitment to leveraging advanced technologies and infrastructure to provide innovative financial solutions to its customers worldwide.
The source of the article is from the blog portaldoriograndense.com